President Ferdinand R. Marcos Jr. on Sunday announced a significant rollback in fuel prices set to take effect on April 14, providing relief to consumers amid recent global oil market volatility.

In a video message, PBBM said diesel prices will see the largest reduction, dropping by more than P20 per liter. Gasoline prices will decrease by P4.43 per liter, while kerosene will go down by P8.50 per liter.

The President said the price cuts are expected to ease the burden on drivers, commuters, and households affected by rising fuel costs in recent weeks.

However, Marcos noted that the rollback is not enough, assuring the public that the government will roll out additional measures in the coming days to further reduce the cost of transportation, food, and daily living.

He reiterated the administration’s commitment to ensuring that no Filipino is left behind, emphasizing that efforts to provide tangible relief to families will continue.

The rollback comes as the government responds to global developments, including tensions in the Middle East that have impacted oil prices. Subsidies and other interventions are also being implemented to cushion the effects on key sectors.